Method and apparatus for price improvement, participation, and internalization
AssigneeLiquidPoint, LLC
InventorAnthony J. Saliba
Life of this patent
Estimating the term…
Abstract
A method for stock option trading includes receiving an option order at a market, contemporaneously receiving a copy of the option order at an electronic drop (EDrop) system, which is separate and distinct from the market, obtaining a potential cross quantity and a potential cross price based on the option order at the EDrop system, and submitting, through the EDrop system, a contra-order, with respect to the option order, to the market for fulfillment, wherein the contra-order specifies at least one of an underlying security potential cross quantity, and the potential cross price.
Claims120
A method for stock option trading comprising:
- receiving an option order at a server;
- contemporaneously receiving the option order at an electronic drop (EDrop) system;
- and
- automatically generating a match with respect to the option order, wherein the match specifies at least one of an underlying security, potential cross quantity, and the potential cross price.
A method of trading in a securities trading network having a market, the method comprising:
- receiving an order sent to a market at a first server;
- automatically obtaining a contra-order based on the order at the first server;
- and
- submitting a match of the order and contra-order to a second server.
A trading network system, comprising:
- a market in communication with an electronic order flow provider through a network, the market configured to receive an order from the electronic order flow provider;
- and
- a server in communication with the market, the server contemporaneously receiving the order, and wherein the server obtains a contra-order based on the order.
A method for stock option trading comprising:
- generating an option order at an order flow provider;
- transmitting the option order over a network to a first server within a market,
- receiving the option order at the first server within the market;
- contemporaneously receiving the option order at a second server;
- and
- automatically generating, at the second server, a match with respect to the option order, wherein the match specifies at least one of an underlying security, potential cross quantity, and the potential cross price.
A trading network system, comprising:
- a market in communication with an electronic order flow provider through a network, the market comprising at least one market server configured to receive an option order from the electronic order flow provider;
- and
- an electronic drop (EDrop) system comprising at least one EDrop server in communication with the market and the order flow provider, the at least one EDrop server configured to receive a copy of the option order from the electronic flow provider, and wherein the at least one EDrop server obtains a contra-order based on the option order.
A method of trading in an options trading network having a market, the method comprising:
- electronically receiving an option order sent to a market at a first server;
- automatically obtaining a contra-order based on the option order at the first server;
- and
- electronically receiving a match of the option order and contra-order at a second server.
Dependencies are inferred from the claim text.